In yesterday’s Wall Street session, Meta Platforms Inc (NASDAQ:META) shares traded at $432.62, down -2.41% from the previous session.
META stock price is now -12.50% away from the 50-day moving average and 15.98% away from the 200-day moving average. The market capitalization of the company currently stands at $1097.18B.
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With the price target reduced from $585 to $500, Oppenheimer maintained Outperform rating for Meta Platforms Inc (NASDAQ: META). On April 15, 2024, Citigroup reiterated its ‘Buy’ rating on the stock by increasing its target price from $525 to quote $590, while ‘Piper Sandler’ rates the stock as ‘Overweight’
In other news, Newstead Jennifer, Chief Legal Officer sold 585 shares of the company’s stock on Apr 23 ’24. The stock was sold for $287,381 at an average price of $491.25. Upon completion of the transaction, the Chief Legal Officer now directly owns 37,228 shares in the company, valued at $16.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 19 ’24, Chief Operating Officer Olivan Javier sold 490 shares of the business’s stock. A total of $245,578 was realized by selling the stock at an average price of $501.18. This leaves the insider owning 7,089 shares of the company worth $3.07 million. A total of 13.88% of the company’s stock is owned by insiders.
During the past 12 months, Meta Platforms Inc has had a low of $229.85 and a high of $531.49. As of last week, the company has a debt-to-equity ratio of 0.25, a current ratio of 2.68, and a quick ratio of 2.68.
The net profit margin was 32.06% and return on equity was 33.36% for META. The company reported revenue of $36.45 billion for the quarter, compared to $28.64 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 27.26 percent.
Meta Platforms Inc(META) Company Profile
Meta Platforms, Inc. engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately. The Reality Labs segment provides augmented and virtual reality related products comprising consumer hardware, software, and content that help people feel connected, anytime, and anywhere. The company was formerly known as Facebook, Inc. and changed its name to Meta Platforms, Inc. in October 2021. The company was incorporated in 2004 and is headquartered in Menlo Park, California
